total revenue for rocklands $us17.8 billion, page-13

shortchange, processing magnetite from tails is one thing, and that is what the vertimill is for. The magnetite resource released today includes magnetite from outside the copper zones. To process this material would involve running magnetite ore (i.e. waste) through the primary crushing circuit, this means either displacing copper feed, building more crushing capacity, or stockpiling magnetite rich waste until copper operations cease, and transitioning the operation into a stand-alone magnetite mine after copper operations are complete.

It's all good and well touting a 47Mt magnetite resource, but the realities of economically extracting that resource will be challenging. Name an operating operating iron mine that has a 14% Magnetite headgrade. If you have 14% magnetite and are selling your mag con at your astoundingly generous estimate of $230/t, it gives you on average $32.2 worth of magnetite per tonne of "ore" mined. That will not leave very much headroom to get that ore mined, processed, royalties paid, and transported to market, let alone pay back the infrastructure costs, even on that very generous estimate of magnetite spot price.